Share this article

Texas commits $865m to real assets

by Reg Clodfelter

The Teachers Retirement System of Texas has committed $865 million to real estate, divided between five different commingled funds, sidecars and co-investments, confirms Howard Goldman, director of communications with TRS.

The largest commitment was for $465 million and went to Westbrook Partners’ UWS Co-Investment 9, which reportedly invests in special situations opportunities on a global basis and is currently active in the United States, London, Munich, Paris and Tokyo.

TRS also committed $200 million to Almanac Realty Securities VII, with $100 million going to the fund itself and another $100 million going to a sidecar vehicle accompanying the fund. ARS VII, managed by Almanac Realty, is a $1 billion fund that targets private placements of growth equity capital into public and private real estate companies, and generates capital gains by growing the company’s equity value through acquiring, developing and/or repositioning real estate asse